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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Income Statement [Abstract]        
Net sales $ 359.7 $ 368.9 $ 695.6 $ 715.7
Cost of goods and services sold 241.5 247.1 467.7 487.5
Gross profit 118.2 121.8 227.9 228.2
Research and development 8.1 9.9 15.6 19.9
Selling, general and administrative expenses 60.8 57.5 116.0 113.9
Other expense (Note 11) 10.2 0.3 9.4 1.0
Operating profit 39.1 54.1 86.9 93.4
Interest expense 3.4 4.2 7.5 8.2
Interest income 0.4 0.5 0.8 0.9
Income before income taxes 36.1 50.4 80.2 86.1
Income tax expense 9.2 14.0 21.7 23.8
Equity in net income of affiliated companies 0.9 1.2 2.2 2.4
Net income $ 27.8 $ 37.6 $ 60.7 $ 64.7
Net income per share:        
Basic (in dollars per share) $ 0.39 $ 0.53 $ 0.84 $ 0.92
Diluted (in dollars per share) $ 0.38 $ 0.52 $ 0.83 $ 0.89
Weighted average shares outstanding:        
Basic (in shares) 72.0 70.8 71.9 70.7
Diluted (in shares) 73.7 72.4 73.5 72.4
Dividends declared per share $ 0.11 $ 0.10 $ 0.22 $ 0.20